v3.26.1
Cash Equivalents and Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Cash Equivalents And Marketable Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Company's Cash Equivalents and Marketable Securities

The following tables summarize the amortized cost and fair value of the Company’s cash equivalents and marketable securities (in thousands):

 

 

 

As of June 30, 2026

 

 

 

Amortized
Cost Basis

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 Money market funds

 

$

33,700

 

 

$

—

 

 

$

—

 

 

$

33,700

 

 Government securities

 

 

10,440

 

 

 

—

 

 

 

(1

)

 

 

10,439

 

 

$

44,140

 

 

$

—

 

 

$

(1

)

 

$

44,139

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 Government securities

 

$

172,183

 

 

$

—

 

 

$

(127

)

 

$

172,056

 

 Term deposits

 

 

150,000

 

 

 

—

 

 

 

—

 

 

 

150,000

 

 

$

322,183

 

 

$

—

 

 

$

(127

)

 

$

322,056

 

 

 

 

As of December 31, 2025

 

 

 

Amortized
Cost Basis

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Estimated
Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 Money market funds

 

$

92,788

 

 

$

—

 

 

$

—

 

 

$

92,788

 

 

$

92,788

 

 

$

—

 

 

$

—

 

 

$

92,788

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 Government securities

 

$

99,742

 

 

$

106

 

 

$

—

 

 

$

99,848

 

 

$

99,742

 

 

$

106

 

 

$

—

 

 

$

99,848

 
Summary of Marketable Securities Gross Unrealized Losses

Information pertaining to marketable securities with gross unrealized losses as of June 30, 2026, for which the Company did not recognize a provision for credit losses under the current expected credit loss methodology, aggregated by investment category and length of time that individual securities had been in a continuous loss position, is as follows (in thousands):

 

 

 

As of June 30, 2026 - Less Than 12 Months

 

 

 

# of Holdings

 

 

Gross Unrealized Loss

 

 

Fair Value

 

 Government securities

 

 

53

 

 

$

(127

)

 

$

157,067

 

 

 

53

 

 

$

(127

)

 

$

157,067

 
Summary of Maturity Information Based on Fair Value of Available-for-sale Securities

Maturity information based on fair value of the available-for-sale securities is as follows as of June 30, 2026:

 

Maturity Information

 

 

 

 

 

Fair Value as of June 30, 2026

 

Maturing in one year or less

 

 

 

 

 

$

322,056

 

Maturing in one to five years

 

 

 

 

 

 

-

 

Total

 

 

 

 

 

$

322,056